BOARD COMMITEES
Executive Commitee

To assist the Board with its responsibilities, the Board established an Executive Committee who may act on corporate matters which are within the competence of the Board except the following authorities that are specially reserved for the Board: (a) approval of any action of which shareholder approval is also required; (b) amendment or repeal of By-Laws or adoption of new By-Laws; (c) approval of the annual report and accounts; (d) exercise of powers delegated by the Board to other committees; (e) board appointments and removals; (f) selection of the Chairman and President & Chief Executive Officer; nominations for Board membership following recommendations from the Nomination Committee; (g) appointment or removal of the Corporate Secretary and Treasurer; (h) appointment,reappointment or removal of the external auditor; and (i) distribution of cash dividends to shareholders.

The following are the members of the Executive Committee:


Necisto U. Sytengco Chairman | Non-Executive Director
Gerry D. Tan Member | Executive Director
Esmeraldo Tepace Member | Executive Director
Aylene Y. Sytengco Member | Executive Director
Necisto Y. Sytengco II Member | Executive Director


AAudit Risk Management and Related Party Transaction Committee

To assist the Board in fulfilling its oversight responsibilities to shareholders and other stakeholders, the Audit and Risk Management Committee was established to monitor the integrity of the Company’s financial statements, review its internal control and risk management systems, to monitor and review the independence of the external auditor and the effectiveness of its audit process and make recommendations to the shareholder for the appointment of external auditors and the terms of their engagement.

The members of the Audit Risk Management and Related Party Transaction Committee are as follows:


Lilian Linsangan Chairperson | Independent Director
Roberto F. Anonas, Jr. Member | Independent Director
Ricardo Nicanor N. Jacinto Member | Non-Executive Director
Yvonne C. Lih Member | Executive Director
Aylene Y. Sytengco Member | Executive Director


Corporate Governance Nomination and Remuneration Committee

The Corporate Governance Nomination and Remuneration Committee evaluates the qualifications of all persons nominated for election of the Board of Directors in accordance with the requirements of the Company’s By-Laws, Manual of Corporate Governance and applicable legal and regulatory listing requirements. The Committee also coordinates the annual evaluation of the effectiveness of the Board and develops and recommends policies on corporate governance.

The members of the Corporate Governance, Nomination and Renumeration Committee are as follows:


Roberto F. Anonas, Jr. Chairman | Independent Director
Lilian Linsangan Member | Independent Director
Ricardo Nicanor N. Jacinto Ex-Officio | Non-Voting Member | Non-Executive Director
Yvonne C. Lih Member | Independent Director